topic Doing Business taxes for an LLC which is a company doing futures trading and software development. What deduction category would software data fees be in? in Business & farm

Doing Business taxes for an LLC which is a company doing futures trading and software development. What deduction category would software data fees be in?

janefuhrman — Sat, 01 Jun 2019 07:14:54 GMT

Would like to the know the common business expense that I should use for data fees for a trading platform. Thank you!

PatriciaV — Sat, 01 Jun 2019 07:14:55 GMT

Yes, in most cases software data fees may be reported as Subscriptions or under All Other Expenses with a custom description.

How you categorize your expenses is not critical for your business tax return. Just be sure you do not enter the same expense twice.